Ekaterina S. Bjornali

Examining competence factors that encourage innovative behaviour by European higher education graduate professionals

Purpose – This paper aims to examine the effects of individual competencies and characteristics linked to educational programmes that contribute to the development of competencies conducive to innovation.Design/methodology/approach – The authors draw on theories of intrapreneurial competencies – i.e. intrapreneurship and competence‐based innovation – and the entrepreneurship education literature. The study uses comprehensive survey data on approximately 11,000 higher education graduates, five years after graduation in 12 European countries, collected in 2005. The authors test hypotheses regarding the effects of individual competencies and study programme characteristics on the probability of introducing innovations at work, using logistic regression.Findings – Several kinds of competencies are found to increase the probability that graduates introduce innovations at work: professional and creative, communications and championing, and brokering do so, while productivity/efficiency does not. Education progr...

Research on the board of directors in high-tech start-ups: an assessment and suggestions for future research

This Handbook provides a unique collection of research addressing issues of corporate governance in entrepreneurial contexts, including start-ups, owner-managed firms, fast-growing firms, and IPOs, as well as how corporate governance and board leadership is associated with entrepreneurship and innovation in both small and large established companies. The chapters span a wide range of topics, methodologies, and levels of analysis, all designed to contribute to a comprehensive understanding of when and how corporate governance matters in different entrepreneurial contexts.

Exploring Antecedents and Impact of Board Effectiveness in Clean-Tech Enterprises

Abstract Purpose Given prior limited research on boards in clean-tech enterprises, we investigate what constitutes an effective board exploring in-depth: who the board members are, what roles they perform and how these roles are performed. Methodology/approach Our study is an inductive, multiple case study of five clean-tech enterprises established in Norway. Findings We find that board composition in terms of complementary resources that the top management team lacks added by outside directors, their increased engagement in the board service role and board behavioural integration are important constituents of board effectiveness, which in turn translates into the increased levels of the firm’s strategic action capabilities, both action speed and breadth. Research limitations/implications We suggest that these three constituents (prevalence of outside directors, board service role engagement and board behavioural integration) together make up the board contribution, which is most valued by clean-tech enterprises in the earliest stages of their development. Future research could be conducted in other types of high-tech start-ups and/or in other hybrid social enterprises to strengthen the generalizability of our findings. Originality/value While the mainstream governance research focuses on for-profit boards in large established companies, our study adds to the research on non-for-profit governance and boards in clean-tech enterprises that are both small entrepreneurial and hybrid social enterprises.

Design Characteristics Associated with Venture Capital Acquisitions in Academic Spin-offs

This dissertation addresses the under-studied area of the role of the top management team (TMT) and board of directors in the development of academic spin-off companies (ASOs) originating from public research institutes. ASO research receives growing attention internationally following the rise in commercialization activities in the vast majority of universities. The studies identify the barriers to and facilitators of ASO formation and growth, which are related to faculty attributes and incentives, university technology transfer policies and practices, and the external environment. Few studies examine the founding team demonstrating that it evolves in to a TMT and board during legal incorporation and that the TMT heterogeneity has significant performance consequences. Even fewer studies investigate the board in ASOs. This is surprising since well-networked outside directors may contribute to ASO development by increasing a firm’s legitimacy and thus reducing liabilities of newness and providing access to critical external resources that young ASOs need to survive. In this dissertation I therefore contribute by addressing this research gap and I explore the board formation and changes in board composition and try to relate these changes to the development stages of an ASO. Given limited prior research on board dynamics I employ an inductive multiple case research design. I also examine the role of the board in accessing needed external managerial resources and how the board and TMT themselves can be valuable resources that help an ASO to achieve the important entrepreneurial milestone of acquiring venture capital. For these studies the data on 135 ASOs in Norway are collected and analyzed using logistic regression. I find that the dynamics of the development stages in an ASO is related to the dynamics of its board. In successful ASOs the board contribution is dynamic. The board chair’s social networks seem to be essential when attracting key members to the board of an ASO. Key board members bring in needed resources that the TMT lacks, ranging from finance and industry experience in earlier stages to executive and marketing/sales experience in later development stages. Thus, they help an ASO to prove a venture’s viability and approach a stage of sustainable returns. Board size and networking appear to be important when recruiting new TMT members with necessary competences who open for new growth opportunities. ASOs that have value adding boards and TMT members with diverse functional and industry backgrounds succeed in recruiting new team members and acquiring venture capital. The likelihood of attracting venture capital increases if ASOs have previously managed to receive seed capital and support from industrial partners.

Board features associated with new team member addition in academic spin-offs

This dissertation addresses the under-studied area of the role of the top management team (TMT) and board of directors in the development of academic spin-off companies (ASOs) originating from public research institutes. ASO research receives growing attention internationally following the rise in commercialization activities in the vast majority of universities. The studies identify the barriers to and facilitators of ASO formation and growth, which are related to faculty attributes and incentives, university technology transfer policies and practices, and the external environment. Few studies examine the founding team demonstrating that it evolves in to a TMT and board during legal incorporation and that the TMT heterogeneity has significant performance consequences. Even fewer studies investigate the board in ASOs. This is surprising since well-networked outside directors may contribute to ASO development by increasing a firm’s legitimacy and thus reducing liabilities of newness and providing access to critical external resources that young ASOs need to survive. In this dissertation I therefore contribute by addressing this research gap and I explore the board formation and changes in board composition and try to relate these changes to the development stages of an ASO. Given limited prior research on board dynamics I employ an inductive multiple case research design. I also examine the role of the board in accessing needed external managerial resources and how the board and TMT themselves can be valuable resources that help an ASO to achieve the important entrepreneurial milestone of acquiring venture capital. For these studies the data on 135 ASOs in Norway are collected and analyzed using logistic regression. I find that the dynamics of the development stages in an ASO is related to the dynamics of its board. In successful ASOs the board contribution is dynamic. The board chair’s social networks seem to be essential when attracting key members to the board of an ASO. Key board members bring in needed resources that the TMT lacks, ranging from finance and industry experience in earlier stages to executive and marketing/sales experience in later development stages. Thus, they help an ASO to prove a venture’s viability and approach a stage of sustainable returns. Board size and networking appear to be important when recruiting new TMT members with necessary competences who open for new growth opportunities. ASOs that have value adding boards and TMT members with diverse functional and industry backgrounds succeed in recruiting new team members and acquiring venture capital. The likelihood of attracting venture capital increases if ASOs have previously managed to receive seed capital and support from industrial partners.